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The $64 bln question: Where are Dubai’s real debts?

Posted on 18 December 2009

From Thedailymaverick.co.za: There are lots of unanswered questions when it comes to the elastic band that is Dubai’s debt trap. Is it frayed? Will it spring back to a healthy shape, or burst apart to the edges of the financial universe? Nobody really knows.

It now looks as if the ragged teeth of unfinished skyscrapers that litter Dubai’s skyline portend a deeper truth. The emirate’s once-sparkling smile is now a grimace, and unless the winds of fortune change quickly, and Dubai changes with them, the punch-drunk visage might become a permanent feature………………………………..Full Article: Source

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